The £300,000 Property Development Mistake

In this episode of the OMZ Property Podcast, I sit down with property developer Vinay Sharma to break down a real development deal that turned into a £300,000 mistake. Vinay started his property development journey with smaller projects before moving into mixed-use schemes, airspace developments and multi-million pound sites. But during one project he made a decision that many developers are tempted to make… trying to increase the planning permission mid-build to add two extra flats. What followed was a 12–18 month delay, refinancing the development loan, planning appeal costs and hundreds of thousands in additional finance costs. In this episode we discuss: • The real cost of changing planning permission during a development • How a planning gamble ended up costing around £300,000 • Refinancing development finance when a project runs over time • Moving from small projects to multi-million pound developments • How to source development sites through commercial agents • Why choosing the right contractor can make or break a project • Airspace developments and building flats above existing buildings • How developers scale from small deals to £10M+ projects Vinay also shares the real numbers behind several development deals including: • A mixed-use scheme with 2 shops and 6 flats • A £3.5M airspace development in Bethnal Green • A potential 31-unit development with a £14M GDV If you are interested in property development, raising development finance, finding sites or scaling a property business, this episode is packed with valuable insights and lessons. This episode is sponsored by Trinity Finance. Trinity Finance is an FCA-regulated mortgage brokerage specialising in: • Development finance • HMO mortgages • Commercial finance • Bridging loans • Buy-to-let mortgages If you need help funding a property deal contact the team: 📧 [email protected] 📞 01322 907700 Subscribe for More Property Development Content If you enjoyed this episode: 👍 Like the video 💬 Comment your biggest lesson from the episode 🔔 Subscribe for future OMZ Property Podcast episodes #propertydevelopment #propertyinvestment #developmentfinance #airspacesecurity #development #realestateinvesting #buytolet #mixedusedevelopment #propertypodcast